Turkey’s Energy Minister Bayraktar: We have no plans for a natural gas price hike

Minister Bayraktar answered questions related to the agenda on a TV channel. He emphasized that the support of 25 cubic meters for citizens continues in natural gas, adding “We have no plans for a natural gas price hike”.

The Minister went on to say, “We have been supporting our citizens with natural gas for a long time. In May 2023, we made it completely free. We continue to provide support to our citizens with 25 cubic meters free every month. Last year’s support was 282 billion TL. Currently, there is no indication of any increase in natural gas prices. We are not planning any price hikes.”

The Minister also shared the following: “The prices we see in Europe are reasonable at the moment. It had gone to very different places last year. Right now, we provide significant support for natural gas and electricity in Turkey. We are the second cheapest country in Europe. In 2002, 20% of the minimum wage went to the electricity bill, and 25% to natural gas. Today, 4.5% of the minimum wage goes to natural gas, and electricity is around 1.5%. We provided support to 4.1 million households in electricity.”

“Natural gas support is continuing to increase. Our coal support continues. We want to establish a social tariff in Turkey. We will support those in need. When we look at the world economy, there is a serious contraction. Oil prices are above where they should be. We see a decrease in demand. Therefore, the price should come down.”

“Commodity prices are high due to wars. The support schedule is related to this. The state covers around 50% of electricity in homes. We subsidize this. Commodity prices are high due to wars. The support schedule is related to this. The state covers around 50% of electricity in homes. We subsidize this.”